Switchback Energy Acquisition Corporation [NYSE: SBE] loss -2.16% on the last trading session, reaching $34.94 price per share at the time. The company report on November 16, 2020 that MERGER ALERT – TNAV, SBE, and LSAC: Levi & Korsinsky, LLP Reminds Investors of Investigations Concerning the Mergers of these Companies.
The following statement is being issued by Levi & Korsinsky, LLP:
Levi & Korsinsky, LLP announces that investigations have commenced on behalf of shareholders of the following publicly-traded companies.
Switchback Energy Acquisition Corporation represents 31.41 million in outstanding shares, while the company has a total market value of $1.10 billion with the latest information. SBE stock price has been found in the range of $32.65 to $34.96.
If compared to the average trading volume of 5.23M shares, SBE reached a trading volume of 5427984 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Switchback Energy Acquisition Corporation [SBE]:
Wolfe Research have made an estimate for Switchback Energy Acquisition Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 10, 2020.
The Average True Range (ATR) for Switchback Energy Acquisition Corporation is set at 4.25 The Price to Book ratio for the last quarter was 275.12.
Trading performance analysis for SBE stock
Switchback Energy Acquisition Corporation [SBE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.39. With this latest performance, SBE shares gained by 111.12% in over the last four-week period, additionally plugging by 254.36% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SBE stock in for the last two-week period is set at 58.56, with the RSI for the last a single of trading hit 53.62, and the three-weeks RSI is set at 61.03 for Switchback Energy Acquisition Corporation [SBE]. The present Moving Average for the last 50 days of trading for this stock 22.31, while it was recorded at 38.69 for the last single week of trading, and 13.36 for the last 200 days.
Switchback Energy Acquisition Corporation [SBE]: A deeper dive into fundamental analysis
Reflecting on the efficiency of the workforce at the company, Switchback Energy Acquisition Corporation [SBE] managed to generate an average of $259,857 per employee.
An analysis of insider ownership at Switchback Energy Acquisition Corporation [SBE]
There are presently around $408 million, or 61.31% of SBE stock, in the hands of institutional investors. The top three institutional holders of SBE stocks are: ADAGE CAPITAL PARTNERS GP, L.L.C. with ownership of 2,140,948, which is approximately -10.794% of the company’s market cap and around 25.64% of the total institutional ownership; GOVERNORS LANE LP, holding 961,494 shares of the stock with an approximate value of $33.59 million in SBE stocks shares; and HBK INVESTMENTS L P, currently with $29.74 million in SBE stock with ownership of nearly -5.436% of the company’s market capitalization.
41 institutional holders increased their position in Switchback Energy Acquisition Corporation [NYSE:SBE] by around 5,790,172 shares. Additionally, 37 investors decreased positions by around 15,173,816 shares, while 0 investors held positions by with 9,285,534 shares. The mentioned changes placed institutional holdings at 11,678,454 shares, according to the latest SEC report filing. SBE stock had 35 new institutional investments in for a total of 5,060,507 shares, while 21 institutional investors sold positions of 9,369,615 shares during the same period.